AMD has a new CEO
Not to be outdone by Apple, AMD has finally named a new CEO, allowing interim Chief Executive Officer Thomas Seifert to return to his role as senior VP and CFO.
AMD had been without a CEO since January when Dirk Meyer abruptly resigned from his post. Although it remains unclear why Meyer departed, many journalists and analysts have speculated that the former CEO was forced to bid adieu due to AMD's almost non-existent presence in the lucrative tablet space.
AMD's new CEO - Rory P. Read - previously worked at Lenovo and could help the company expand its nascent tablet initiatives as well as its already burgeoning APU business.
Indeed, Read was most recently President and Chief Operating Officer at Lenovo, where he was responsible for leading day-to-day global operations while overseeing the development and implementation of the company's growth strategy.
While managing Lenovo's Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability. He was promoted to president and COO in 2009. Prior to Lenovo, Read spent 23 years at IBM, where he held a broad range of management positions.
"I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," Read said in an official statement.
"AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I'm excited to be joining AMD's employees as we write the next chapter not just for the company, but for the industry and consumers around the world."